Nuclear supply chain helping to drive the regional economy

In an event today at the TownePlace Suites by Marriott Kincardine, the Saugeen Shores Chamber of Commerce, Kincardine Chamber of Commerce and the Ontario Chamber of Commerce (OCC) brought together business and political leaders from throughout Bruce County to a panel discussion that addressed the vital role that the nuclear supply chain plays in delivering economic and social benefits to the area.

Participants discussed how Bruce Power helps to add jobs throughout the province, and in particular, Bruce, Grey and Huron Counties.

“The supply chain offered by Bruce Power is an important part of the economic growth strategy for the region, with a lasting impact on strengthening our local workforce,” said Matt Smith, Chair of the Kincardine Chamber of Commerce. “Those workers live here, buy homes here, spend money here, and pay taxes here. Altogether, Bruce Power is contributing to a prosperous, well-employed regional economy.”

“The supply chain benefits of the Bruce Power are clear,” said Joanne Robbins, General Manager of the Saugeen Shores Chamber of Commerce. “This project will help support the region not only through clean, safe, affordable electricity but also through the economic activity it generates.”

The Ontario Chamber of Commerce also spoke to the importance of the project from a province-wide perspective at the event.

“The economic benefits of Bruce Power span far beyond the local region, and will create opportunities throughout Ontario’s nuclear supply chain,” said Karl Baldauf, Vice-President of Policy and Government Relations at the OCC. “That means new jobs for Ontarians across the province. Meanwhile nuclear power will contribute to a reliable energy supply over the long-term.”

The Life Extension Program is expected to see $980 million to $1.2 billion in direct and indirect labour income annually and $751 million to $1.07 billion in direct and indirect annual economic benefit will be realized through the purchasing of equipment, supplies and materials. In addition, 90% of spending is in Ontario, supporting hundreds of businesses throughout the province.

“Our Ontario-based supply chain is critical to the success of Bruce Power and the regional economy,” said Mike Rencheck, President and CEO, Bruce Power. “Creating jobs, supporting community economic development, contributing to local charities and events, and spending locally, we see a significant spin-off effect in our region.”